In order to grow its business operations, co-living operator Settl has raised Rs 10 crore in a pre-Series A fundraising round. Along with other well-known investors like Anthill Ventures, Gurugram-based Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum, the startup reports that Gruhas and We Founder Circle participated in the round. To date, Settl has raised approximately Rs 14.9 crore, including the current round. While the startup didn't disclose the valuation, report claims the round values the startup at Rs 30 crore. According to Settle, the money raised will go towards team growth, technological improvements, and working capital requirements. "The premium co-living market is in a massive expansion phase, and Settl has seized this opportunity quickly and effectively," stated Abhishek Tripathi, Co-Founder & Director of Settl. He thinks the company's growth and expansion will be greatly aided by the collaboration with well-known investors. Gruhas' Abhijeet Pai observed the profound transition from rural to urban life and praised Settl for capturing this change. In addition, he emphasised this investment's role in the Gruhas Aspire accelerator programme, which supports cleantech and proptech businesses.

Abhishek Tripathi founded Settl in 2020 to address the demand for contemporary, fully equipped shared living spaces. The startup has operations in Chennai, Hyderabad, Bengaluru, and Gurugram. It states that it has more than 60 co-living facilities with 4,000 beds available spread throughout these cities. The business stated that the rental prices of these lodgings, which range from Rs 12,500 to Rs 18,000 per bed, are mainly aimed at working professionals. The aim is to provide affordable and comfortable housing solutions for millennials and young professionals who are looking for convenient and hassle-free living options. Settl's platform allows users to search for and rent shared living spaces, individual rooms, or entire apartments that are fully furnished and equipped with modern amenities.